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| | Tue Mar 11, 2008
Pelangio Advised Of Drill Results From Detour Gold'S Drilling Program At Detour Lake, Ontario (DG-07-193: 19.33 G/T / 8.0 M In Gap Zone; DG-07-202: 3.47 G/T / 29.0 M In West Pit And Calcite Zone Extended Further West) | 
view PDF | TORONTO, Ontario (March 11, 2008) - Pelangio Mines Inc. (PLG:TSX) ("Pelangio" or the "Company") has been advised by Detour Gold Corporation ("Detour Gold") that it has released drill results from 30 holes of the Phase II drilling program at its Detour Lake property in northern Ontario. Detour Gold started Phase II drilling in July 2007 and thus far has completed 223 holes totaling 84,886 metres (including 15 holes abandoned totaling 1,290 metres).
Pelangio has a 49.1% equity interest in Detour Gold (20 million shares). Detour Gold issued a press release today, the verbatim text of which follows:
"Detour Gold Reports More Results from 2007 Phase II Drilling
at its Detour Lake Property in Northern Ontario, Canada
(DG-07-193: 19.33 g/t / 8.0 m in Gap Zone; DG-07-202: 3.47 g/t / 29.0 m
in West Pit and Calcite Zone extended further west)
Detour Gold Corporation (TSX: DGC) ("Detour Gold" or the "Company") is pleased to report the drill results of 30 holes from its Phase II drilling program at the Detour Lake property in northern Ontario. The Company started Phase II drilling in July 2007 and thus far has completed 223 holes totaling 84,886 metres (including 15 holes abandoned for 1,290 metres) from the planned 120,000 metre program. The Company has now reported 102 holes totaling 32,772 metres (including 10 holes abandoned for 830 metres). There are six (6) active drill rigs on site, four of which are on the Phase II program and two on the exploration program.
Five (5) of the seven (7) holes drilled in the Calcite Zone intersected significant mineralization with some intercepts outside the boundaries of the current US$575 and US$700 pit shells. The Company has intersected gold mineralization (VG) up to section 17,900E, approximately 160 metres west from today's reported hole DG-07-209. Near-surface gold mineralization was intersected up to section 17,600E (an additional 300 metres west) by Placer Dome during the late 90s when they were drilling the QK zone from both the surface and underground. The QK mineralized zone is mainly defined between sections 16,160E and 17,160E from the 560 metre level drift.
West Pit area drilling with 15 new holes (including three abandoned) intersected gold mineralization in the core and outside of the known 200 metre wide mineralized corridor. Good results were obtained from the four (4) holes testing the core of the mineralized corridor and the three (3) holes testing the CMH and footwall mineralization. In the Gap Zone area, results from all eight (8) drill holes showed good continuity of the mineralized corridor both at depth and along strike.
The best mineralized (uncut) intervals encountered are shown below.
West Pit: |
DG-07-201 |
DG-07-202 |
DG-07-230 |
|
7.01 g/t over 21.0 m |
3.47 g/t over 29.0 m |
2.59 g/t over 23.0 m |
|
|
|
|
|
Gap Zone: |
|
|
|
DG-07-190 |
DG-07193 |
DG-07-204 |
DG-07-210 |
2.98 g/t over 27.0 m |
19.33 g/t over 8.0 m |
1.60 g/t over 42.2 m |
2.96 g/t over 24.0 m |
4.33 g/t over 13.6 m |
16.37 g/t over 7.0 m |
8.08 g/t over 14.0 m |
|
|
|
10.03 g/t over 14.8 m |
DG-07-213 |
|
|
|
4.06 g/t over 24.0 m |
Calcite Zone: |
DG-07-203 |
DG-07-209 |
DG-07-219 |
|
4.68 g/t over 15.0 m |
1.24 g/t over 44.0 m |
2.81 g/t over 20.0 m |
|
Exploration drilling, outside of the deposit area, is progressing well with two (2) drill rigs that have completed 5,965 metres in 21 holes along a six kilometre strike length east of the deposit, and 2,068 metres in 12 holes on the North Walter Lake target area.
The 2007-08 Phase II program (120,000 metres) is expected to be completed in the second quarter of 2008. The Company plans to release a mineral resource update by mid-2008, which would include Phase I and Phase II drill results received as of early June 2008. Drill results announced to date are expected to increase the current open pit resource base of 4.8 million ounces in the measured and indicated categories (1.22 M oz in measured and 3.61 M oz in indicated) and 3.0 million ounces in the inferred category, using a gold price of US$575/oz (equivalent to a cut-off grade of 0.64 g/t gold and capped at 20 g/t gold).
Complete tables of results, surface and longitudinal plans and cross-sections for the Detour Lake deposit are posted on the Company's website http://www.detourgold.com/dgc/detourlake.asp or http://www.detourgold.com/dgc/LatestDrillResults.asp on the home page "Explore Detour Lake".
Detour Gold's exploration program is being managed by Project Manager, Mr. Roger Aubertin, P.Eng., a Qualified Person within the meaning of National Instrument 43-101. Mr. Aubertin has verified and approved the data disclosed in this release, including the sampling, analytical and test data underlying the information. The December 2007 mineral resource was prepared by Thon Consulting and audited by Michael W. Kociumbas, P.Geo., Vice-President of Watts, Griffis and McOuat Limited. Details on the current mineral resource are available in the January 2008 Technical Report, which is posted on the Company's website or on SEDAR (www.sedar.com).
Samples are prepared and assayed at SGS Minerals Services in Don Mills, Ontario, Canada. Analysis for gold is done on sawn half core samples using fire assay (AA finish). Samples with higher grade gold (>5 g/t) are re-assayed using the pulp and metallics procedures. Standard reference materials, blank and field duplicate samples are inserted prior to shipment from site to monitor the quality control of the assay data. For additional information on Quality Assurance and Quality Control, refer to the press release dated April 11, 2007.
For further information, please contact:
Gerald Panneton, President and CEO
Tel: (416) 304.0800
Laurie Gaborit, Director Investor Relations
Tel: (416) 304.0581
Detour Gold Corporation, Royal Bank Plaza, North Tower, 200 Bay Street, Suite 2040, Toronto, Ontario M5J 2J1
Forward-Looking Information
Certain statements herein may contain forward-looking information within the meaning of applicable securities laws. Forward-looking information appears in a number of places and can be identified by the use of words such as "intends" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information includes statements regarding the Company's exploration plans with respect to the Property and the estimation of mineral resources and are subject to such forward-looking risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such risks include gold price volatility, change in equity markets, the uncertainties involved in interpreting geological data, increase in costs and exchange rate fluctuations and other risks involved in the gold exploration and development industry as well as those risk factors discussed under "Risk Factors" in the Company's final prospectus dated January 22, 2007 available at www.sedar.com. There can be no assurance that forward-looking information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of Detour Gold. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified by this cautionary statement. The Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
Information Concerning Estimates of Mineral Resources
This news release uses the terms 'measured', 'indicated' and 'inferred' resources. Detour Gold advises investors that although these terms are recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and Exchange Commission does not recognize them. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, 'inferred resources' have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for Preliminary Assessment as defined under 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.
Detour Lake Project - Highlights of Drill Results
Hole No. |
Section No. |
From
(m) |
To
(m) |
Length
(m) |
Au
Uncut
(g/t) |
Au
Cut to 20 g/t
(g/t) |
Host Rock Unit |
DG-07-190 |
18,840E |
46.0 |
87.0 |
41.0 |
1.02 |
1.02 |
Pillow flow |
(Gap Zone) |
|
116.0 |
125.0 |
9.0 |
1.04 |
1.04 |
|
|
|
167.0 |
174.0 |
7.0 |
1.87 |
1.87 |
|
|
|
216.0 |
223.0 |
7.0 |
0.87 |
0.87 |
|
|
|
251.0 |
278.0 |
27.0 |
2.98 |
1.93 |
Pillow Flow |
|
|
Inc. 272.0 |
273.0 |
1.0 |
48.20 |
20.00 |
|
|
|
303.0 |
316.6 |
13.6 |
4.33 |
4.25 |
Pillow Flow |
|
|
Inc. 303.0 |
304.0 |
1.0 |
20.80 |
20.00 |
|
|
|
Inc. 305.0 |
306.0 |
1.0 |
20.20 |
20.00 |
|
|
|
Inc. 316.1 |
316.6 |
0.5 |
20.21 |
20.00 |
|
|
|
325.0 |
365.0 |
40.0 |
1.21 |
0.98 |
Lower Pillow Flow |
|
|
Inc. 347.0 |
348.0 |
1.0 |
29.23 |
20.00 |
|
|
|
388.0 |
394.0 |
6.0 |
1.40 |
1.40 |
|
|
|
409.0 |
428.0 |
19.0 |
1.45 |
1.45 |
Lower Pillow Flow |
DG-07-193 |
18,620E |
101.0 |
109.0 |
8.0 |
1.12 |
1.12 |
|
(Gap Zone) |
|
137.0 |
146.0 |
9.0 |
2.72 |
1.43 |
|
|
|
Inc. 141.0 |
141.5 |
0.5 |
43.33 |
20.00 |
|
|
|
230.0 |
243.0 |
13.0 |
2.57 |
2.42 |
Massive Flow |
|
|
Inc. 234.0 |
235.0 |
1.0 |
22.00 |
20.00 |
|
|
|
253.0 |
264.0 |
11.0 |
1.27 |
1.27 |
|
|
|
359.0 |
367.0 |
8.0 |
19.33 |
2.83 |
Massive Pillow Flow |
|
|
Inc. 366.0 |
367.0 |
1.0 |
152.00 |
20.00 |
|
|
|
383.0 |
408.0 |
25.0 |
1.21 |
1.21 |
Lower Pillow Flow |
|
|
421.0 |
428.0 |
7.0 |
16.37 |
2.32 |
Lower Pillow Flow |
|
|
Inc. 422.0 |
422.5 |
0.5 |
216.76 |
20.00 |
|
DG-07-194 |
19,920E |
134.0 |
141.0 |
7.0 |
1.02 |
1.02 |
|
(West Pit) |
|
|
|
|
|
|
|
DG-07-196 |
19,800E |
No significant results |
|
(West Pit) |
|
|
|
|
|
|
|
DG-07-197 |
18,800E |
13.5 |
31.0 |
17.5 |
0.94 |
0.94 |
|
(Gap Zone) |
|
102.0 |
112.0 |
10.0 |
0.68 |
0.68 |
|
|
|
127.0 |
134.0 |
7.0 |
1.32 |
1.32 |
|
|
|
211.0 |
218.0 |
7.0 |
1.13 |
1.13 |
|
|
|
229.0 |
238.0 |
9.0 |
1.47 |
1.47 |
|
|
|
254.0 |
272.0 |
18.0 |
0.65 |
0.65 |
|
|
|
296.0 |
306.0 |
10.0 |
1.14 |
1.14 |
|
|
|
319.0 |
328.0 |
9.0 |
1.31 |
1.31 |
|
|
|
340.0 |
347.0 |
7.0 |
5.33 |
1.79 |
Massive Flow |
|
|
Inc. 344.5 |
345.0 |
0.5 |
69.67 |
20.00 |
|
|
|
366.0 |
375.0 |
9.0 |
0.84 |
0.84 |
|
|
|
389.0 |
397.0 |
8.0 |
1.21 |
1.21 |
|
|
|
413.0 |
420.0 |
7.0 |
5.76 |
5.43 |
Lower Pillow Flow |
|
|
Inc. 415.0 |
416.0 |
1.0 |
22.33 |
20.00 |
|
|
|
608.0 |
623.0 |
15.0 |
0.74 |
0.74 |
|
DG-07-198 |
18,580E |
94.0 |
101.0 |
7.0 |
1.54 |
1.54 |
|
(Calcite Zone) |
|
171.0 |
178.0 |
7.0 |
1.34 |
1.34 |
|
|
|
245.0 |
252.0 |
7.0 |
0.82 |
0.82 |
|
|
|
265.4 |
273.0 |
7.6 |
1.19 |
1.19 |
|
|
|
311.0 |
326.0 |
15.0 |
1.34 |
1.34 |
|
|
|
422.0 |
434.0 |
12.0 |
2.63 |
2.53 |
PF/MF contact |
|
|
Inc. 429.0 |
429.5 |
0.5 |
22.30 |
20.00 |
|
|
|
458.0 |
465.0 |
7.0 |
1.64 |
1.47 |
|
|
|
Inc. 459.5 |
460.0 |
0.5 |
22.47 |
20.00 |
|
DG-07-199 |
19,840E |
145.0 |
152.0 |
7.0 |
0.77 |
0.77 |
|
(West Pit) |
|
|
|
|
|
|
|
DG-07-199A |
19,840E |
No significant results, abandoned at 207.5 m |
|
(West Pit) |
|
|
DG-07-200 |
18,140E |
74.0 |
81.0 |
7.0 |
2.84 |
2.35 |
|
(Calcite Zone) |
|
Inc. 79.3 |
79.8 |
0.5 |
26.92 |
20.00 |
|
|
|
119.0 |
131.5 |
12.5 |
0.69 |
0.69 |
|
|
|
209.0 |
226.0 |
17.0 |
1.70 |
1.70 |
Massive Flow |
DG-07-201 |
19,880E |
327.0 |
334.0 |
7.0 |
1.10 |
1.10 |
|
(West Pit) |
|
352.0 |
361.0 |
9.0 |
1.34 |
1.34 |
|
|
|
379.0 |
388.0 |
9.0 |
1.63 |
1.63 |
|
|
|
398.0 |
419.0 |
21.0 |
7.01 |
2.98 |
Talc schist (SLDZ) |
|
|
Inc. 407.0 |
408.0 |
1.0 |
33.00 |
20.00 |
|
|
|
Inc. 414.0 |
415.0 |
1.0 |
91.50 |
20.00 |
|
|
|
476.0 |
483.0 |
7.0 |
2.20 |
2.20 |
|
DG-07-202 |
19,740E |
171.0 |
200.0 |
29.0 |
3.47 |
1.24 |
Massive Flow |
(West Pit) |
|
Inc. 177.3 |
177.8 |
0.5 |
132.77 |
20.00 |
|
|
|
Inc. 180.0 |
180.5 |
0.5 |
36.74 |
20.00 |
|
|
|
229.0 |
261.0 |
32.0 |
1.28 |
1.10 |
Lower Massive Flow |
|
|
Inc. 249.0 |
250.0 |
1.0 |
25.80 |
20.00 |
|
DG-07-203 |
18,100E |
73.0 |
96.0 |
23.0 |
0.80 |
0.80 |
|
(Calcite Zone) |
|
107.0 |
117.0 |
10.0 |
1.26 |
1.26 |
|
|
|
125.0 |
140.0 |
15.0 |
4.68 |
1.27 |
Massive Flow |
|
|
Inc. 139.0 |
139.5 |
0.5 |
122.44 |
20.00 |
|
|
|
237.0 |
244.0 |
7.0 |
1.19 |
1.19 |
|
|
|
417.0 |
429.0 |
12.0 |
1.22 |
1.22 |
|
DG-07-204 |
18,700E |
31.0 |
38.0 |
7.0 |
2.72 |
1.47 |
|
(Gap Zone) |
|
Inc. 32.3 |
32.8 |
0.5 |
37.45 |
20.00 |
|
|
|
51.0 |
61.0 |
10.0 |
3.11 |
2.13 |
Upper Pillow Flow |
|
|
Inc. 55.7 |
56.2 |
0.5 |
39.52 |
20.00 |
|
|
|
94.0 |
102.0 |
8.0 |
0.84 |
0.84 |
|
|
|
115.0 |
122.2 |
7.2 |
1.93 |
1.93 |
|
|
|
177.8 |
220.0 |
42.2 |
1.60 |
1.43 |
Pillow Flow |
|
|
Inc. 209.0 |
210.0 |
1.0 |
27.41 |
20.00 |
|
|
|
300.0 |
307.0 |
7.0 |
6.64 |
4.67 |
Pillow Flow |
|
|
Inc. 302.0 |
303.0 |
1.0 |
33.80 |
20.00 |
|
|
|
317.0 |
324.0 |
7.0 |
2.08 |
2.08 |
|
|
|
334.0 |
348.0 |
14.0 |
8.08 |
4.92 |
Lower Pillow Flow |
|
|
Inc. 347.0 |
348.0 |
1.0 |
64.20 |
20.00 |
|
|
|
383.0 |
390.0 |
7.0 |
1.52 |
1.52 |
|
|
|
440.2 |
455.0 |
14.8 |
10.03 |
1.67 |
Massive Flow |
|
|
Inc. 440.2 |
440.7 |
0.5 |
27.67 |
20.00 |
|
|
|
Inc. 449.5 |
450.0 |
0.5 |
259.77 |
20.00 |
|
|
|
496.0 |
503.0 |
7.0 |
1.13 |
1.13 |
|
DG-07-205 |
19,840E |
33.0 |
47.0 |
14.0 |
0.75 |
0.75 |
|
(West Pit) |
|
89.0 |
98.0 |
9.0 |
0.84 |
0.84 |
|
DG-07-206 |
18,760E |
33.0 |
40.0 |
7.0 |
2.34 |
2.34 |
|
(Gap Zone) |
|
103.0 |
112.5 |
9.5 |
0.71 |
0.71 |
|
|
|
185.0 |
198.0 |
13.0 |
3.63 |
3.42 |
Pillow Flow |
|
|
Inc. 190.0 |
191.0 |
1.0 |
21.20 |
20.00 |
|
|
|
Inc. 191.0 |
192.0 |
1.0 |
21.50 |
20.00 |
|
|
|
238.0 |
245.0 |
7.0 |
2.21 |
2.21 |
|
|
|
359.0 |
368.0 |
9.0 |
3.14 |
3.14 |
Lower Pillow Flow |
|
|
384.0 |
391.0 |
7.0 |
1.11 |
1.11 |
|
|
|
453.0 |
460.0 |
7.0 |
0.76 |
0.76 |
|
DG-07-207 |
19,800E |
No significant results
|
|
(West Pit) |
|
|
DG-07-209 |
18,060E |
107.0 |
114.0 |
7.0 |
1.17 |
1.17 |
|
(Calcite Zone) |
|
315.0 |
324.0 |
9.0 |
1.78 |
1.78 |
|
|
|
340.0 |
384.0 |
44.0 |
1.24 |
1.24 |
Massive Flow |
|
|
395.0 |
402.0 |
7.0 |
5.07 |
5.07 |
CMH |
DG-07-210 |
18,620E |
160.0 |
176.0 |
16.0 |
0.74 |
0.74 |
|
(Gap Zone) |
|
213.0 |
224.0 |
11.0 |
1.28 |
1.28 |
|
|
|
258.0 |
282.0 |
24.0 |
2.96 |
1.35 |
Pillow Flow |
|
|
Inc. 276.0 |
276.5 |
0.5 |
96.96 |
20.00 |
|
|
|
321.0 |
329.0 |
8.0 |
1.16 |
1.16 |
|
|
|
365.0 |
372.0 |
7.0 |
2.87 |
2.87 |
|
|
|
390.0 |
397.0 |
7.0 |
1.54 |
1.54 |
|
|
|
453.0 |
479.0 |
26.0 |
1.64 |
1.64 |
Lower Pillow Flow |
|
|
491.0 |
498.0 |
7.0 |
5.82 |
2.40 |
Massive Flow |
|
|
Inc. 496.4 |
497.0 |
0.6 |
59.98 |
20.00 |
|
DG-07-212 |
19,720E |
59.0 |
66.0 |
7.0 |
2.32 |
2.32 |
|
(West Pit) |
|
|
|
|
|
|
DG-07-213 |
19,040E |
111.0 |
120.0 |
9.0 |
0.80 |
0.80 |
|
(Gap Zone) |
|
155.0 |
163.0 |
8.0 |
1.20 |
1.20 |
|
|
|
227.0 |
241.0 |
14.0 |
1.89 |
1.89 |
Lower Pillow Flow |
|
|
270.0 |
294.0 |
24.0 |
4.06 |
2.70 |
PF/MF contact |
|
|
Inc. 277.0 |
278.0 |
1.0 |
32.00 |
20.00 |
|
|
|
Inc. 286.2 |
286.7 |
0.5 |
61.21 |
20.00 |
|
|
|
312.0 |
332.0 |
20.0 |
1.61 |
1.31 |
Massive Flow |
|
|
Inc. 324.0 |
324.5 |
0.5 |
32.01 |
20.00 |
|
|
|
420.0 |
432.5 |
12.5 |
1.12 |
1.12 |
|
|
|
460.0 |
467.0 |
7.0 |
2.62 |
2.62 |
|
DG-07-214 |
18,340E |
No significant results
|
|
(Calcite Zone) |
|
|
DG-07-215 |
19,660E |
Abandoned; not sampled |
|
(West Pit) |
|
|
DG-07-215A |
19,660E |
149.0 |
163.0 |
14.0 |
2.04 |
2.04 |
Talc schist (SLDZ) |
(West Pit) |
|
246.0 |
253.0 |
7.0 |
1.78 |
1.78 |
|
DG-07-217 |
18,380E |
No significant results
|
|
(Calcite Zone) |
|
|
DG-07-218 |
19,760E |
No significant results
|
|
(West Pit) |
|
|
DG-07-219 |
18,320E |
28.0 |
35.0 |
7.0 |
1.12 |
1.12 |
|
(Calcite Zone) |
|
45.0 |
52.0 |
7.0 |
1.28 |
1.28 |
|
|
|
94.0 |
114.0 |
20.0 |
2.81 |
2.81 |
Pillow Flow |
|
|
130.0 |
139.0 |
9.0 |
2.40 |
2.40 |
|
|
|
228.0 |
235.0 |
7.0 |
1.39 |
1.39 |
|
|
|
282.0 |
300.0 |
18.0 |
2.11 |
1.51 |
Mafic Flow |
|
|
Inc. 284.5 |
285.0 |
0.5 |
41.42 |
20.00 |
|
|
|
331.0 |
338.0 |
7.0 |
1.02 |
1.02 |
|
DG-07-220 |
19,660E |
No significant results; intersected stope at 101 m
|
|
(West Pit) |
|
|
DG-07-220A |
19,660E |
21.0 |
32.0 |
11.0 |
0.80 |
0.80 |
|
(West Pit) |
|
113.0 |
121.0 |
8.0 |
0.91 |
0.91 |
|
|
|
171.0 |
206.0 |
35.0 |
0.86 |
0.86 |
Lower Pillow Flow |
|
|
217.0 |
224.0 |
7.0 |
1.08 |
1.08 |
|
|
|
270.0 |
277.0 |
7.0 |
1.39 |
1.39 |
|
DG-07-222 |
18,960E |
37.0 |
59.0 |
22.0 |
1.60 |
1.60 |
Pillow Flow |
(Gap Zone) |
|
188.0 |
195.0 |
7.0 |
1.74 |
1.63 |
|
|
|
Inc. 188.5 |
189.0 |
0.5 |
21.45 |
20.00 |
|
|
|
209.0 |
218.0 |
9.0 |
1.97 |
1.97 |
|
|
|
247.0 |
254.0 |
7.0 |
1.10 |
1.10 |
|
DG-07-230 |
19,660E |
108.0 |
115.0 |
7.0 |
2.42 |
2.42 |
|
(West Pit) |
|
213.0 |
236.0 |
23.0 |
2.59 |
2.33 |
Lower Pillow Flow |
|
|
Inc. 214.5 |
215.0 |
0.5 |
31.90 |
20.00 |
|
Note: All values above 20 g/t in the composite are reported in the table. True width is estimated to be 65 to 75% of the drilled length."
About Pelangio
Pelangio is a gold exploration company active in the top-ranked mining jurisdictions in the world, Canada and Ghana. The Company's main focus is to advance its exploration programs on its premier land position in Ghana totaling 290 square kilometres, located on strike and adjacent to AngloGold Ashanti's Obuasi gold mine.
Pelangio also has a 49.1% equity interest in Detour Gold, which controls the Detour Lake advanced exploration project. The near-term objective of Detour Gold is to advance the Detour Lake project to development and production.
For additional information, please visit our website at www.pelangio.com or contact:
Ingrid Hibbard, President & CEO or
Warren Bates, Vice President Exploration
Tel: 905-875-3828 / Toll-free: 1-877-746-1632 / Email: info@pelangio.com
Reliance on Detour Gold and Forward-Looking Statements
The information contained in this press release is a verbatim extract of the press release issued by Detour Gold. Although Pelangio believes the information included in the press release to be generally reliable, the data has not been independently verified and Pelangio does not assume any liability for the accuracy or completeness of such information. Furthermore, as noted above in the verbatim extract, the press release may contain forward-looking information within the meaning of applicable securities laws. Such information includes the statements contained in the verbatim extract regarding Detour Gold's exploration and drilling plans, plans to update the mineral resource and the estimation of mineral resources and are subject to risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The risks include those that are set out above in the verbatim extract and those contained in Detour Gold's prospectus as noted above. See also, the risks set out in Pelangio's annual information form, management information circular and quarterly and annual management's discussion and analysis. There is no assurance that the forward-looking information contained in the press release will prove to be accurate. Accordingly, readers should not place undue reliance on the forward-looking information.
All of the information contained in the press release is qualified by this cautionary statement. |
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